UBS Group Issues Pessimistic Forecast for Harmony Biosciences (NASDAQ:HRMY) Stock Price

Harmony Biosciences (NASDAQ:HRMY) had its price objective lowered by equities research analysts at UBS Group from $46.00 to $36.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. UBS Group’s price target suggests a potential upside of 23.92% from the company’s current price.

HRMY has been the subject of a number of other reports. Zacks Research raised Harmony Biosciences from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 22nd. Deutsche Bank Aktiengesellschaft lowered shares of Harmony Biosciences from a “buy” rating to a “hold” rating and set a $31.00 target price on the stock. in a research report on Monday. Oppenheimer reiterated an “outperform” rating and issued a $62.00 price target on shares of Harmony Biosciences in a research report on Monday, November 24th. Bank of America lowered their price objective on shares of Harmony Biosciences from $32.00 to $28.00 and set an “underperform” rating on the stock in a research report on Wednesday. Finally, HC Wainwright restated a “buy” rating and issued a $55.00 price objective on shares of Harmony Biosciences in a research note on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $42.67.

Harmony Biosciences Stock Up 3.1%

HRMY stock opened at $29.05 on Wednesday. The stock has a market cap of $1.68 billion, a P/E ratio of 10.72, a PEG ratio of 0.39 and a beta of 0.84. The company has a current ratio of 3.60, a quick ratio of 3.72 and a debt-to-equity ratio of 0.17. Harmony Biosciences has a twelve month low of $25.52 and a twelve month high of $40.87. The company’s 50 day moving average is $36.19 and its two-hundred day moving average is $34.12.

Harmony Biosciences (NASDAQ:HRMY) last issued its earnings results on Tuesday, February 24th. The company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.84 by ($0.46). The company had revenue of $243.78 million during the quarter, compared to analyst estimates of $240.04 million. Harmony Biosciences had a net margin of 18.29% and a return on equity of 19.86%. The company’s quarterly revenue was up 21.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.85 EPS. Research analysts expect that Harmony Biosciences will post 2.43 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Jeffrey M. Dayno sold 25,933 shares of the business’s stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $40.11, for a total value of $1,040,172.63. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Sandip Kapadia sold 20,961 shares of the business’s stock in a transaction that occurred on Thursday, January 15th. The shares were sold at an average price of $35.92, for a total transaction of $752,919.12. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 50,640 shares of company stock valued at $1,932,256. Corporate insiders own 23.60% of the company’s stock.

Hedge Funds Weigh In On Harmony Biosciences

Large investors have recently added to or reduced their stakes in the business. Invesco Ltd. lifted its holdings in shares of Harmony Biosciences by 11.8% during the 4th quarter. Invesco Ltd. now owns 450,805 shares of the company’s stock worth $16,869,000 after acquiring an additional 47,517 shares during the period. Mercer Global Advisors Inc. ADV purchased a new position in Harmony Biosciences in the fourth quarter valued at approximately $525,000. State of Tennessee Department of Treasury lifted its position in Harmony Biosciences by 37.0% during the fourth quarter. State of Tennessee Department of Treasury now owns 36,150 shares of the company’s stock valued at $1,320,000 after buying an additional 9,768 shares in the last quarter. Mackenzie Financial Corp purchased a new stake in Harmony Biosciences during the fourth quarter worth approximately $1,529,000. Finally, Empowered Funds LLC increased its position in shares of Harmony Biosciences by 56.9% in the fourth quarter. Empowered Funds LLC now owns 85,153 shares of the company’s stock worth $3,186,000 after acquiring an additional 30,882 shares in the last quarter. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting Harmony Biosciences

Here are the key news stories impacting Harmony Biosciences this week:

• Positive Sentiment: HC Wainwright reaffirmed its “buy” rating and kept a $55 price target, signaling strong upside from current levels and providing bullish support for long investors. HC Wainwright Reaffirms Buy
• Positive Sentiment: Needham & Company maintained a “buy” rating and a $44 target after a small cut, which keeps another buy-side endorsement in the tape and supports demand from growth-oriented investors. Needham Buy Rating
• Neutral Sentiment: UBS trimmed its price target from $46 to $36 and set a “neutral” rating — a meaningful reduction in upside but not a sell call, which may temper enthusiasm without forcing broad liquidation. UBS Lowers PT to $36
• Neutral Sentiment: An analyst-aggregate report shows an average rating of “Moderate Buy,” indicating mixed but overall constructive analyst sentiment that can limit downside from negative headlines. Analyst Average Rating
• Negative Sentiment: Truist Securities downgraded HRMY to “Hold” after developments in a patent trial, flagging increased legal/competitive risk that could pressure future revenue or margins if adverse outcomes persist. Truist Downgrade After Patent Trial
• Negative Sentiment: Bank of America cut its price target to $28 and moved to an “underperform” rating, which is explicitly bearish and adds selling pressure from institutional accounts that follow BofA coverage. BofA Lowers PT to $28

About Harmony Biosciences

Harmony Biosciences Holdings, Inc is a commercial‐stage biopharmaceutical company focused on developing and delivering therapies for people with rare neurological and endocrine diseases. Founded in 2017 and headquartered in Plymouth Meeting, Pennsylvania, Harmony Biosciences went public in 2020 and trades on the Nasdaq under the ticker HRMY. The company’s mission centers on identifying and advancing medicines that address critical unmet needs in patient populations underserved by existing treatments.

The company’s flagship product is WAKIX (pitolisant), the first and only histamine H3 receptor antagonist/inverse agonist approved by the U.S.